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RHM - Richmond Mining

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YOUNG_TRADER

YOUNG_TRADER

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Found a cheap spec company thats got grounds near SFR

30m shares = $4.5m mkt cap at 15c

with almost $3m cash at bank leaves an EV of $1.5m for grounds near SFR's Copper Discovery? too cheap arguably based on what all the other nearology plays near SFR have been re-rated too


No real fundamentals here but before you shoot me down take a look at the charts of ALY TLM CYS GTE SRI and PEK to see the massive re-ratings they have had based on nearology

here is an idea of the share price if the market cap was to double or triple



$10m mkt cap = 30c+ share price
$15m mkt cap = 45c+ share price
 
Re: RHM - Richmon Mining

SFR 110m shares@ $4 = $400m mkt cap cash $15m
ran from 5c low with mkt cap of $5m
The much hyped about Doolgunna discovery no JORC yet



ALY 90m diluted@ $1 = $90m mkt cap cash + options $12m
run from low of 3c where mkt cap was under $2m
Drilling success near Doolgunna



TLM 130m diluted@ $1.10 = $143m mkt cap cash + options $20m
has run from 8c mkt cap $7m
extensive Iron Ore and Manganese ground but arguably a large portion of the re-rating came from the fact that Springfield Copper Gold project is next door to SFR's Doolgunna



ENT 115m diluted@ 45c = $52m mkt cap cash + options $7m
has run from 7c and $7m mkt cap
Copper Gold project near Doolgunna would drill success




CYS 75m diluted@ 50c = $37m mkt cap cash + options $10m
has run from5c and $2m mkt cap
just exploration grounds near SFR's Doolgunna project





GTE 80m post raising @ 25c= $20m mkt cap cash $6.5m
has run from1.6c and under $1m mkt cap
extensive exploration grounds south of TLM and SFR





PEK 116m diluted@ 13c = $15m mkt cap cash + options $3m
has run 2c and $2m mkt cap
exploration grounds near SFR's Doolgunna project in-between ALY CYS and SFR




GLN 245m @ 3.6c = $9m mkt cap cash = $2.5m
has run from 2c and $5m mkt cap
exploration grounds to the north of SFR's Doolgunna project



RHM 30m @ 15c = $4.5m mkt cap cash = $3m
has run from 4c and $1.2m mkt cap
exploration grounds near SFR's Doolgunna project
surveys have shown that "The Narracoota project has the right rock types and presents a significant copper/gold
target along strike from the DeGrussa discovery."





The above shows the different market caps and the different re-ratings stocks have had based on their nearology to SFR's Doolgunna project and also the quality and quantity of work the indivdua companies have done on their projects



To me RHM seems cheap and one could argue that based on the re-ratings the other stocks have had RHM may get re-rated too


Also see the image below for location of different company leases
 

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Agree. Starting to turn over some nice volume and looking like its trying to go for a run. I'm in for a punt.
 
not really interested in what it does short term to be honest

when you look at the massive re-ratings other specs ahve had in the area let alone ALY and TLM who may also be on to something it makes you realise that if RHM do find something they could easily be capped at $30m - $60m very quickly which is $1-$2 a share may seem ridiculous but look at the charts of SFR ALY TLM


and more important that the above map which just highlights RHM's tennements relative to others is the geo physics presented in the below image

Its clear that the "NARRCOOTA VOLCANICS" orange parts host many finds in the area including ALY's Hermes

Also note the multiple Gold and Copper finds maybe 2-5kms to the South of RHM's grounds
 

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Wow making a nice move today on some decent volume. I dont have access to my charting package but from google charts looks like a breakout!

Agree once again YT, I'm not just trading this I'm in for mid term.
 
sounds good guys... once again good spotting YT

i first read about these guys in the SMH, but didnt really take any notice...

RICHMOND MINING Richmond footy club could have some more funds to throw around in its hunt for a permanent coach should an exploration program by Richmond Mining (RHM) for nickel beneath the Nullarbor Plain come up with the goods.

Named after the AFL club by non-executive director Jim Malone, a long-suffering fan and the footy club's chief executive between 1994 and 2000, Richmond is about to punch some eagerly awaited holes into its Loongana nickel prospect, 500 kilometres east of Kalgoorlie.

Malone slung the footy club some Richmond shares in its $3.5 million float in June 2008. So it is a case of fingers crossed for the team. While it hasn't enjoyed success on the ground in 2009, it might just find something to celebrate on the bourse.

The beauty of Richmond is its leverage to even a sniff of nickel at Loongana. That's because it only has 30.7 million shares on issue. The shares closed 1 ¢ higher on Friday at 16.5 ¢, valuing the explorer at all of $5 million.

It is still holding on to $3.1 milllion from the float, an achievement in itself. The initial five-hole exploration at Loongana is not going to cost a lot either, maybe $250,000. And it could be money well spent.

Loongana covers a buried mafic/ultramafic intrusion, the primary host rocks for various types of nickel deposits. Richmond's drilling program is to test five high-priority geophysical anomalies identified in the intrusion for nickel sulphides at depths of 300-450 metres.

It is the sort of "thrill or kill" exploration program that gets the juices flowing for investors in juniors. Apart from the program being a potential company maker, success would open up a new nickel province.

Failure won't be the end of the game, with Richmond having a portfolio of other exploration properties it is working up to the drill stage.
Click to expand...
 
nice little run up on the chart here.

nice volume... if some news came out i wonder where she'd go

... its got me interested.
 

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Speeding ticket out. No, No, N/A, Yes. The usual.

I am surprised they didn't mention YT's post in their reply. Or should ASX just issue the speeding ticket to the man himself?

Another astute find.
 
thank you yt

got in to this on opening

a stock like this is the kind of company the speculator jumps on
he loves small market caps with cash more than 1/2 its market cap

the nearology part is just a great bonus
 
ok, i've been doing more research into this one

someone work this out

$5mil market cap

then we go to page 12 of the audited fin statements and what does it say under cash and cash equivs???........ $3mil

total liabilites only $79k

with the current SP below the IPO it's ridiculous that this isnt higher... or atleast more popular

DYOR
 
placement of shares at 15c to raise 1.5 mill if approved

takes market cap to 7 mill with cash around 4.5 mill

any thoughts why they would raise at present ?
 
I jumped in on this one. The nearology and project potential to me has some decent upside as this stock currently appears undervalued. I had a similar experience with MAT a few months ago.
 
Interest has been building in this stock over the past week with VTEM results from Richmond's Narracoota Copper/Gold project due shortly. From 11.5c earlier in this week, RHM closed at 17.5c with volume increasing over the week.

Poor results from the VTEM survey wont leave the company with much after disapointing drill results from their Loongana Nickel project. However, there should be a lot of upside with a positive VTEM result with other companies in the area looking for similar resources trading at much larger market caps.
 
Richmond's VTEM survey over their Narracoota project. It has identified 18 VTEM conductors within the Narracoota Volcanics, the same rocks hosting Sandfire's DeGrussa Copper-Gold discovery.

http://www.asx.com.au/asxpdf/20100208/pdf/31nl7jl7m070t7.pdf

Punters not too responsive, share price down 3.5c to 14.5c.

With 33,378,002 share on issue, Market Cap is just under $5million with about $2.8million cash on hand.
 
Further geophysical modelling and processing of the VTEM data is in progress to refine and prioritise the anomalies. It is anticipated this work will be finalised by mid-February."

Luckily I have been holding since the very early days of RHM and steadily accumulating. This is a very exciting time and this Tiger is ready to pounce.
 
And if further detail on Narracoota (due imminently) wasn't enough, there's the announcement yesterday, bringing Richmond out of trading halt Monday, of an option to purchase an iron-ore mine in Nevada USA.

Bit out of left-field. Sounds like they've got ambitions for the big time.:D

Discl: I hold.
 
Option to purchase +400 million tonne USA iron ore deposit

HIGHLIGHTS
• Option to purchase 100% of USA based Buena Vista Iron ore deposit for
total consideration of $US8 million over approximately three years.
• JORC Measured resource of 109 million tonnes grading 23% total Fe
within historical pit designs.
• Exploration target of 45-55 million tonnes grading 20-22% total Fe
within historical pit designs.
• Additional exploration targets of 200-250 million tonnes grading 20-
22% total Fe outside historical pit designs.
• Extensive historic metallurgical test work demonstrates ore easily
beneficiates to +66% total Fe.
• Deposit located only 40km from siding on railway line that connects to
three major San Francisco Bay Ports.
• Multi-million dollar data base acquired
 
JimBob said:
Richmond's VTEM survey over their Narracoota project. It has identified 18 VTEM conductors within the Narracoota Volcanics, the same rocks hosting Sandfire's DeGrussa Copper-Gold discovery.

http://www.asx.com.au/asxpdf/20100208/pdf/31nl7jl7m070t7.pdf

Punters not too responsive, share price down 3.5c to 14.5c.

With 33,378,002 share on issue, Market Cap is just under $5million with about $2.8million cash on hand.
Click to expand...


It is such a good set-up this one JB. Miniscule market cap and a big drilling campaign on the VTEMs in the Narracoota Volcanics. It is interesting to see the old (albeit it small scale) mines on the periphery of the EL.

If (and it is a big if) they hit some decent copper grades, all bets are off.

The $2m odd in cash is a bonus.

I would have thought at the very least the announcment of the drilling campaign could spark some volume here.

IMO, DYOR.
 
it is a no brainer this co. so underpriced just keep accumulating
saving keeps buying into i/o in us when groundwork is done
 

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